The EUR/USD pair came under strong selling pressure early on Wednesday, bottoming ahead of Wall Street’s opening at 1.0272.
EUR/USD Current price: 1.0298 Worse-than-anticipated German and Eurozone figures undermined demand for the Euro. The US ADP report showed the private sector added 122,000 new positions in December. EUR/USD struggles around 1.0300 and aims to extend its slide in the near term. The US Dollar benefited during Asian trading hours from a souring mood, exacerbated by caution ahead of key United States data. Tepid European data added to EUR/USD slide, as Germany reported that Factory Orders fell by 1.
While the EUR/USD pair held near the aforementioned low, the US published the ADP Employment Report, which showed that the private sector added 122K new jobs in December, missing expectations of 140K. Additionally, Initial Jobless Claims for the week ended January 3 increased by 201K, better than the 218K expected and below the previous 211K. The figures, however, had no actual impact on EUR/USD.
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